Hakkio, Craig S.; Gordon H. Sellon, Jr. - In: Economic Review (2000) Q II, pp. 1-20
For many years, the Federal Reserve's discount window has played an important role in monetary policy. Discount window … meet short-term credit needs. Consequently, the usefulness of the discount window in smoothing reserve imbalances and … influencing market interest rates and asset prices.> Hakkio and Sellon analyze the changing role of the discount window in …